Ari Emanuel's Mari in talks to buy theater group ATG for $6 billion, FT reports

June 23 (Reuters) - Mari Group, founded by TKO CEO Ari Emanuel, is in advanced talks to buy British West End theater operator ATG Entertainment for £4.5 billion ($5.94 billion), the Financial Times reported on Tuesday, citing four people close to the situation.

Here are further details:

• U.S.-based Providence, which owns ATG, is now in exclusive talks to sell to Emanuel’s live events company Mari Group amid hopes a deal can be concluded within the next month, FT reported.

• The timing could still slip and a deal is not confirmed, the report said.

• Emanuel is also the CEO of TKO, the owner of mixed martial arts promotion company Ultimate Fighting Championship.

• Reuters reported last month that ATG Entertainment is in the early stages of being prepared for a possible sale by its private equity owner Providence, citing four people familiar with the matter.

• The sale of ATG Entertainment, previously known as Ambassador Theatre Group, would mark a revival for an industry that was hurt badly by lockdowns during the pandemic.

• Providence and ATG did not immediately respond to Reuters requests for comment. Mari declined to comment.

($1 = 0.7575 pounds)

(Reporting by Puyaan Singh in Bengaluru; Editing by Sahal Muhammed)